Excluding one-time items, the Dallas-based company expects
to break even, plus or minus 3 cents a share, according to a
statement today. That missed the 27-cent average of 10 estimates
compiled by Bloomberg. Dean dropped 7.4 percent to $14.08 at the
close in New York, the biggest decline since Nov. 12.

“The consensus view of the dairy commodity outlook for
2014 appears to be more challenging than previously expected,”
Chief Executive Officer Gregg Tanner said in the statement.
“Dairy commodity prices have moved near or beyond all-time
highs despite strong global production growth.”

Dean had a fourth-quarter net loss of 40 cents a share
compared with net income of 30 cents a year earlier. Excluding
one-time items, per-share profit was 18 cents, matching the
average of 12 estimates.